A constable knocks on a door before posting an eviction order in Arizona earlier this month. Photo: John Moore/Getty Images Last Friday, the Trump administration presented Nancy Pelosi with a $1.8 trillion stimulus offer. That is $1.2 trillion smaller than the relief package that House Democrats passed in May .
1) The U.S. economy is on the brink of collapsing into a vicious downward spiral. From one angle, the COVID-19 recession is nearly over; from another, it is just beginning. But the unprecedented movement of millions of furloughed workers back into reopened businesses — and billions of public dollars into Americans’ bank accounts — has obscured the growth of permanent unemployment. More than 97,000 small businesses have shuttered for good this year. And in the two months since the CARES Act’s unemployment benefits phased out, the pace of recovery has markedly slowed. Less than half of America’s jobless today describe their unemployment as “temporary.
When it comes to recessions, $1.8 trillion of prevention is worth more than $2.2 trillion of cure. Yes, it’s possible that by holding out, Pelosi could secure better terms. But the closer we get to Election Day, the less likely it is that relief money would be dispersed in time to plausibly help Trump — and thus, the more likely the president will be to renege on his current offer. Democrats must secure aid while they can.
And this means that — if Democrats do not secure aid now — there is a significant chance that Biden will inherit a deepening recession, and no viable means of addressing it. In other words: There is a significant chance Biden’s presidency will be over before it starts. As already mentioned, Democrats need a boost in the race for Senate control more than they need one in the race for the presidency. Shifting culpability for the absence of economic relief away from “Washington” in general — and toward the Senate GOP majority in particular — would put some extra wind in the DSCC’s sails.
EricLevitz Not if the majority of it is earmarked for other things than the average American citizen! 🙄🧐
EricLevitz Sadly America put all its Eggs in One Basket. You vote only if it doesn’t get in your way or time. Then sit back wondering HOW did it get this bad.. Well you have to care, and not just about yourself. Care that this Government is draining your Federal reserve. For themselves
EricLevitz No. SpeakerPelosi is right. The deal in the table is INSUFFICIENT. The deal passed In MAY is the right amount. Stop mansplaining.
EricLevitz So wrong
EricLevitz We want the rich to get richer. And risks annihilated! This is the new American dream. You fail? FED will give you a hand! Uraaaa!
EricLevitz And why can’t Joe Biden and the new Dem Congress do it?
EricLevitz If Trump hadn't completely bumbled the covid response we wouldn't even need this
EricLevitz 'Pelosi should accept the White House’s offer posthaste (and pray that it isn’t already too late).' 04 November 2020. Joe Biden: 'folks, we're gonna have to learn to live with this' 💯
I don’t understand why she doesn’t simply say, “Call me when it passes the Senate,” because it can’t, and it would be a waste of her time.
EricLevitz When you have the hammer...
EricLevitz What are you talking, last chance? When DEMs control House, Senate, Presidency, they pass the bills needed.
EricLevitz 👍 “Dark Money” Judicial System EXPOSED in DC. Sen. Whitehouse has become my favorite Senator. MUST SEE presentation from SCOTUS hearing. BEST 29 minutes you’ll see this week. 👍 A SOBERING reality check for ALL Americans. 👍
EricLevitz Calling bullshit on this. The GOP proposal sucks a dead rat's ass and the devil's in the details. I trust SpeakerPelosi!
EricLevitz NO. The whole point is that 1.8 isn't enough to stave off the inevitable economic spiral - accepting it anyway is an excuse to never properly fund relief because 'we already compromised.' ReliefNow DoNotAbandonUS ExtendFPUC ExtendPUA
EricLevitz Nope, help the people not the corporations. Plus, the Dem majority will fix things come Jan.
EricLevitz Blanket protections for corporations? NO.
EricLevitz There is no $1.8T deal. Lol. senatemajldr is doing $500B. That’s it.
EricLevitz Too little too late. VOTE!
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